Kovitz Investment Group Partners LLC Acquires 197,741 Shares of Parker-Hannifin Co. (NYSE:PH)

Kovitz Investment Group Partners LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 596.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,889 shares of the industrial products company's stock after purchasing an additional 197,741 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.18% of Parker-Hannifin worth $146,852,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin in the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $30,000. Bank of New Hampshire bought a new stake in Parker-Hannifin in the 4th quarter worth approximately $35,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin in the 4th quarter worth $40,000. Institutional investors own 82.44% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PH shares. Citigroup reduced their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays lowered their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Truist Financial dropped their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $705.35.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $6.48 during trading on Tuesday, reaching $603.57. 699,560 shares of the company's stock traded hands, compared to its average volume of 715,450. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $77.69 billion, a P/E ratio of 24.98, a PEG ratio of 2.85 and a beta of 1.39. The firm's 50-day moving average is $605.53 and its 200 day moving average is $646.60. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a dividend of $1.80 per share. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.19%. Parker-Hannifin's payout ratio is 29.80%.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.